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2&3 Need To Be Answered 2. What is meant by product differentiation? Give one example of it. Explain briefly why it is important in monopolistic

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2&3 Need To Be Answered

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2. What is meant by "product differentiation"? Give one example of it. Explain briefly why it is important in monopolistic competition. (2 points) 3. What is meant by "mutual interdependence"? Explain briefly why it is important in oligopoly. (2 points)

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